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Ikea Deutschland turnover up by 0.9%

18.11.2020 − 

In the 2019/2020 financial year (31 Aug.), turnover of Ikea Deutschland increased by 0.9% to €5.325bn despite the corona-related closure of its brick-and-mortar stores for almost two months in spring. According to Ikea Deutschland managing director Dennis Balslev, part of the turnover could be generated during the lockdown via the online shop, the Click & Collect service available in all 53 German stores and the online planning services. Whilst online turnover increased by 74.3% to €861.0m, a decrease of 6.7% to €4.464bn was recorded in brick-and-mortar business. Closure of the restaurants over a prolonged period also had a negative impact, which was reflected in a turnover decline in the food sector of almost one-fourth to €189.5m. By contrast, the proportion of total turnover generated by online sales increased by 6.8 percentage points to 16.2%.

While the number of customers in brick-and-mortar stores last financial year fell by 4.8% to 47.9m, the number of online customers rose by 13.6% to 3.4m. The two distribution channels also developed in opposite directions concerning average purchase value. In brick-and-mortar business the average purchase value declined slightly, by 1% to €89.23. Online, on the other hand, customers spent an average €251.07 per purchase, significantly more than in the preceding year (+53.4%). Separately recorded turnover generated with services such as kitchen and furniture assembly and measuring services amounted to €157.0m, according to Ikea Deutschland.

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